Devon Energy Corp. Given New $64.00 Price Target at Raymond James (DVN)
Equities researchers at Raymond James decreased their target price on shares of Devon Energy Corp. (NYSE:DVN) from $71.00 to $64.00 in a research report issued on Monday, Stock Ratings Network reports. The firm currently has an “outperform” rating on the stock. Raymond James’ target price would suggest a potential upside of 5.02% from the company’s current price.
A number of other firms have also recently commented on DVN. Analysts at Societe Generale raised their price target on shares of Devon Energy Corp. from $65.00 to $68.00 in a research note to investors on Wednesday, October 2nd. They now have a “buy” rating on the stock. Separately, analysts at Canaccord Genuity initiated coverage on shares of Devon Energy Corp. in a research note to investors on Tuesday, August 20th. They set a “buy” rating and a $75.00 price target on the stock. Finally, analysts at Guggenheim raised their price target on shares of Devon Energy Corp. from $74.00 to $76.00 in a research note to investors on Wednesday, August 14th. They now have a “buy” rating on the stock. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and fourteen have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $68.36.
Shares of Devon Energy Corp. (NYSE:DVN) traded up 0.23% during mid-day trading on Monday, hitting $60.94. The stock had a trading volume of 2,246,665 shares. Devon Energy Corp. has a 1-year low of $50.81 and a 1-year high of $63.00. The stock has a 50-day moving average of $58.59 and a 200-day moving average of $56.58. The company’s market cap is $24.742 billion.
Devon Energy Corp. (NYSE:DVN) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $1.21 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.95 by $0.26. The company had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter in the prior year, the company posted $0.55 earnings per share. The company’s quarterly revenue was up 20.8% on a year-over-year basis. Analysts expect that Devon Energy Corp. will post $4.23 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, December 31st. Investors of record on Friday, December 13th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Wednesday, December 11th.
Devon Energy Corporation is an independent energy company engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids (NYSE:DVN).
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.